close
    1. Home
      2. ›
    2. Social Science
      3. ›
    3. Economics
      4. ›
    4. price elasticity when Q=500-3P+2Pr+0.1M when Pr=20, M=6,000, P=10
    price elasticity when Q=500-3P+2Pr+0.1M when Pr=20, M=6,000, P=10

    Answer this
    0  Views: 1031 Answers: 1 Posted: 12 years ago
    Tags: elasticity
    Comment this question

      1 Answer

      you didn't specify what M and Pr mean.


      if they are unrelated to P then the elasticity is 0.0003 = 0.03%

      12 years ago. Rating: 0
      Comment this answer

        medic58

        Sorry...P=price, Pr = competitors price, M = consumer income.
        commented 12 years ago
        Volcane

        In that case the answer above should be the right one.
        commented 12 years ago


        Did this answer your question? If not, then ask a new question.

        Top contributors in Economics category

         
        ROMOS
        Answers: 36 / Questions: 0
        Karma: 1950
         
        Benthere
        Answers: 1 / Questions: 0
        Karma: 1230
         
        Colleen
        Answers: 45 / Questions: 0
        Karma: 1185
         
        jhharlan
        Answers: 27 / Questions: 0
        Karma: 1050
        > Top contributors chart

        Unanswered Questions

        Company ABPVietNam
        Answers: 0 Views: 5 Rating: 0
        Nhà cái Fabet
        Answers: 0 Views: 5 Rating: 0
        iwinasiacom
        Answers: 0 Views: 6 Rating: 0
        Kính mắt Farello
        Answers: 0 Views: 9 Rating: 0
        Nhà Cái Lucky88
        Answers: 0 Views: 13 Rating: 0
        w88inguo
        Answers: 0 Views: 11 Rating: 0
        w88inguo
        Answers: 0 Views: 9 Rating: 0
        Sumclub
        Answers: 0 Views: 9 Rating: 0
        > More questions...
        484008
        questions
        724184
        answers
        813583
        users